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Chinese Chip Stocks Gain $13 Billion on Talk of Beijing Stimulus

(Bloomberg) — Top Chinese chipmaker Semiconductor Manufacturing International Corp. led a $13 billion sector rally, after investors bet that Beijing will declare more policy or financial support for an industry central to its geopolitical ambitions. Most Read from Bloomberg Shares of SMIC, which Washington has blacklisted over allegations it aids …

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Klarna is about to oust another board member

Klarna, the Stockholm-based buy-now-pay-later outfit that’s barreling toward an IPO, isn’t done shaking up its board. According to the FT,  seven directors just agreed to oust investor Mikael Walther from Klarna’s eight-person board, nearly eight years after he joined it. Walther is a confidante of Klarna co-founder Victor Jacobsson, who …

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Asian shares climb after blockbuster US jobs report

Asian shares advanced Monday after a surprisingly strong U.S. jobs report raised optimism about the economy, sparking a rally on Wall Street. U.S. futures slipped and oil prices also fell. Japan’s Nikkei 225 index gained 1.8% to 39,332.74 after the yen sank against the U.S. dollar. The Japanese currency has …

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